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Hello this is Matt on the moon Lambo Channel the price of xrp is hanging at a Fairly critical level it's below 54 Cents that's a level that was very Recently uh resistance flipped as Supports been holding for for most of The last week at the moment at least Briefly it's below it so hopefully pops Above but uh this isn't something that's Uniquely problematic with xrp it is the Case that the entire Market is down at Least to some well not literally the Entire Market but across the board it's Looking pretty red out there uh not that The sell-offs have been dramatic uh but This has been led by Bitcoin and so I'll Just say despite this I there's a lot of Stuff that has been up dramatically Lately it's just amazing like despite All of the negative sentiment out there With xrp I'm telling you like I hold a Number of coins where in those Communities the sentiment was just as Poor and they ultimately took off it Seemed impossible until suddenly it Wasn't the same thing I believe will be True of xrp unless you think the whole Market's going to tank and then if That's the case okay fine then nothing Else goes but I find that um you know Less likely let's say but you know for Instance vchain you know that's in the Last couple months or so that's that's More than double what it was I know it's
More than double what I paid for there's Also har bar har bar is up substantially That's probably up two and a half of Them the last couple months two two and A half X roughly maybe a little bit more Than that there's flare up 5x from its Bottom on October 19th these are all Coins nothing wrong with them I hold all Three of those they were from some just Screaming these coins are dead they're Not going there's something wrong same Crap with xrp so despite all this I'm Still optimistic uh we're going to see Much higher price levels for xrp Specifically I'm still confident in a New xrp alltime high finally getting hit Entering price Discovery we just we just Don't get to choose when that happens so Let's talk about what's going on in Markets but before going further I do Want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun oh by the way actually Another one just popped in my head Filecoin that's another one oh the it's Crap and everybody would they bitched About the tokenomics with all of these Coins every single one I just listed all
Four of them plus xrp oh the tokenomics They're so bad people just say this like Do you know what the word tokenomics Even means I kind of wonder if some People don't even get it but you know That term's always B about and as I Always say it's not that tokenomics Don't matter but you know what matters More is demand and you know what we get In Bull markets we get lots of demand That's way more important you can get a Substantial increase in the money Flowing but file coins another one That's up more than at least double Maybe two or three times up within the Last couple months or so it's so get but All of these coins they supposed to be Dead except for they Weren't um here's the crypto Fe and Greed index 72 out of 100 so slipping Down below extreme greed we're just in a Good old regular greed right now um and There's this post I wanted to share from From zeroedge which I just kind found Kind of interesting and perhaps a little Bit ominous because as everybody is Aware at this point I'll assume you know Crypto is treated the same as as Equities in that equities and crypto are Treated as risk on assets so um as a Result that's why when we see the Biggest moves for these asset classes They move in them they just do so if the Stock market's going to be tanking
Crypto's going to be tanking with it in All Likelihood um and so this is a little Bit ominous but from zeroedge they wrote The snp's 2.1% rally Thursday came with Less than 60% of stocks on the New York Stock Exchange Advancing the mismatch was seen just Three other times in the past 60 years 1987 2008 and 2020 yike Singular Yik we're not it's not Full-blown yikes plural just a singular Yike right there we know what happened In these years right 87 2008 financial Collapse 2020 Pandemic okay we'll see what happens Here um and still look nobody knows for Sure it's going to happen but the vast Majority of anos I'll just say right or Wrong they are optimistic that we're Going to be seeing things go much higher In both the the worlds of equities and Crypto throughout 2024 Um there's also this perspective from uh Rakesh up he wrote this for coin Telegraph he's a chart analyst here uh Bitcoin has been facing stiff resistance Near $52,000 increasing the possibility Of a short-term correction the sideways Action resulted in net outflows of Roughly $36 million from the spot Bitcoin exchange traded funds on February 21st according to various
Sources including bitmax Research however the bleeding stalled on February 22nd and the day saw net Inflows of about $251 million into the ETFs some analysts believe the markets Are ready for a pullback before the Having in April popular Trader and Analyst wct Capital said bitcoin's Current bull phase is similar to the 2016 and 2020 bull runs if history Repeats itself a preh having retrace Followed by a poav reaccumulation period Is possible bitcoin's hesitation to Continue its rally has triggered profit Booking in select altcoins a corrective Phase is positive for the long-term Health of the markets as it shakes out The weak hands and allows the stronger Hands to add at lower levels and so I Think that's a rather key point because Anytime you see price go down people Start to get a little scared get you Know the fuel feels hitting them but This would be very normal we haven't Seen crazy draw Downs recently other Than obviously the the selda news event With the Bitcoin ETF but even that Wasn't that crazy how much of a dip was That like 18 to 20% something somewhere In that neighborhood nothing crazy we've Seen way worse than that in crypto and Then we've seen the market rally even Higher so is it possible we could see Things go A bit lower in the short term
Certainly yes and if that happens I'm Sure you know xrp is going to get Knocked down a bit just like pretty much Every other altcoin Under the Sun but It's not exactly the end of the world And here here's what credible crypto had To say about this because he had Acknowledged in a a recent post about a Month ago actually uh for the sake of Time I'm not going to read it it's from January 25th though he was noting that Quote May revisit those local highs end Quote and and here's what he had to say This is his most recent uh post on this From just this Afternoon uh and this is an eth BTC Chart on your Screen uh retesting the afor mentioned Local highs just now as previously Stated this was always an acceptable Level to retest on a dead cap bounce Think our upside relief on ebtc is Nearing its end Bitcoin time time to Shine again soon which makes sense as we Have been in tight a tight consolidation Range for the last 10 days and a break Of this range regardless of up or down Likely results in increased volatility On bitcoin and underperformance on most Alts including eth and folks he didn't Say xrp here but that would include x It's it's all if this happens and of Course people in our community if it Goes low enough going to be screaming
Bloody murder again even though it's Just the market moving in tandem but it Is what it is and then he says in these Stages of the cycle alts tend to Outperform in short windows while Bitcoin ranges SLC consolidates and tend To underperform as Bitcoin breaks out And continues impulsing to new highs and So he's acknowledging there's a Possibility we could see Bitcoin pull Back a bit here but he says that's not Going to change anything and it's look If he's right directionally and we are Going to hit a new all-time high at some Point whether it's you know 3 months From now 6 9 12 what months whatever it Is it's not going to to matter and People will be screaming bloody murder Though there's this post from chart Analyst Matthew Highland who wrote Bitcoin weekly could form bearish Divergence here we won't know until Sunday night holding about $49,000 is More important however and so I'm seen I Checked a t I'm not I follow a lot of Analysts so I you know if if I literally Highlighted perspective from any every Analyst that I follow at every single Video it would be well it would be Overkill it would be a really long video And then there would be a lot of Opinions that are kind of samsy um Because it just seems like there's not a Strong there's not there's not a strong
Consensus at this point as to what's Going to happen here it's just there's a Suspicion that the bitcoin's about to Break and then you know it drags the Market up or down basically we're going To see something soon and uh here's a Post from another popular analyst Kevin Spinson and you wrote Bitcoin demand is Very high right now price unable to Cross below $50,000 to despite the Sideways action what's clear is that the Market currently considers $50,000 fair Value and you know okay fair enough uh But is I don't know if this is going to Age well maybe it will like uh again the Price at the time I'm recording this 50,7 70 bucks it is totally plausible That we could dip into the 40s again Before seeing a move to the upside if That's directionally where we're going To head Anyway there's also this though and um This is one of those posts where it's Kind of like yes INSP in you know it's Account called crypto Amsterdam who Wrote you survived and then list the Things that you survived this just a Little reminder I thought I'd share this With you because the worst is clearly Behind us right hopefully those aren't Famous last words but in all probability Yes the worst is probably behind us uh Xrp is finally sufficiently positioned In a way that we'd want it to be in
Terms of legal Clarity um all sorts of Things lining up and I know we're we do Need to see the stock market continue to Rally to the upside or else we might Have in trouble in the world of crypto For a while but it it's it's possible That could happen so I've never been More optimistic for xrp specifically my Largest individual crypto holding but Here here's where he says we survived And this is just a good point 700 days Of downside and chop Bitcoin crashed From $68,000 to $15,000 the Luna crash the FTX crash Binance versus SEC 3ac 3 Capital blowing Up you deserve this fam and of course There's actually more than that how About uh sec CV Ripple and there there Were other catastrophes that happened Along the way especially in 2022 but for those of you looking at the Screen you can see the point that he's Making here on the left you have today's Altcoin market showing where we are Right now much lower than what we saw in The top for 20121 now if you look on the right you Have the 2021 altcoin market and on the The left side of that portion of the the The chart you can see what happened in 2017 and 2018 which was monstrously high Right right it just look like but 2021 Dwarfed it in terms of Dollars that is what we have to look
Forward to I suspect now that's what I Hope I mean nobody knows for sure again And I I always acknowledge that but look At where we are at this point the best Is yet ahead so I'm just that's what I Just want to say you if the market pulls Back I don't say that to scare people I'm just saying it's possible just Acknowledging Reality but my God this is an exciting Time to be in crypto Uh there's also this post from chart Analyst crypto talking about xrp and he Wrote xrp working on a daily inverse Head and Shoulders daily 21 moving Average holding for now will update xrp And that's what he shared this afternoon That's his most recent update and of Course uh inverse Head and Shoulders if This is indeed what's playing out here That's a that's definitely a bullish Sign right there so we would like to see That oh and I wanted to mention this as Well this is just kind of fascinating There's this headline from you to today Monster Bitcoin purchase mystifies Community I don't need to read the Article I just wanted to mention this uh Invest answers was talking about this Very popular chart analy on social media Platform X and he wrote monster 1.3 uh Billion Bitcoin uh Bitcoin bu 26,200 Bitcoin at $51,000 looks bullish perhaps s swf Jeff
Bezos Zuck or some other high net worth Individual PS this is not an ETF Wallet so I don't know what that is and If I find out I'll be happy to report in The future but I found this fascinating In all sorts of so crypto media Outlets Uh where we're talking about this Because that's not particularly Common and um just broadly covered on Social media as well it's just Fascinating that Somebody somebody's really confident Usually if you have that kind of money You're you're not as likely to be stupid And behave like a typical lumian retail Speculator does you know buying tops and Whatnot so presumably whoever did this Is much confident very confident that Bitcoin is going to be moving much Higher and if if that is indeed correct You know xrp is coming along for the Ride along with the rest of the alt Coins we are going to have a hell of a Great time if indeed that is what comes To pass so we're all going to find out Together but again I personally am very Optimistic I'm not a financial adviser You should not buy or sell anything Because of anything I say or right that Would be a very very very bad idea until Next time to the Moon Lambo
